Tashkent, Uzbekistan (UzDaily.com) – On 15 December 2020, the State Statistics Office of China has published a report on the country’s economic development for 11 months of 2020. According to the document, Beijing has consolidated the trend of post-coronavirus economic recovery, fulfilled the plan for creating new jobs and growth in the sectors of industrial production, e-commerce and investment.

In 11 months, industrial production grew by 2.3%, services sector - 1.7%, retail trade - 4.8%, and online sales - 11.5% year on year. Investments in fixed assets in January-November increased by 2.6%. Investment in infrastructure development increased by 1%, in real estate - by 6.8%.

The situation in China’s foreign trade remained stable, the volume of which increased by 1.8%. Exports increased by 3.7%, imports - by 0.5%. Thanks to the stabilization of the economic situation in 11 months, 10.9 million new jobs were created in the PRC, and the unemployment rate was kept at 4.2%.

At the heart of the economic recovery in China, experts say, is aggressive containment of the pandemic, which has allowed factories to quickly restore production and benefit from global demand for medical equipment and the use of remote work technologies. This helped exporters gain a record market share.

Based on the data of the State Statistical Office of the People’s Republic of China, experts note that in 2020 the Chinese economy will develop according to the optimistic scenario, if any unexpected events do not occur by the end of the year.

However, the effects of the pandemic on small and medium-sized enterprises remain. In addition, the provincial budgets have not yet resolved the problems that have arisen as a result of the provision of various incentives to enterprises in the form of a delay or cancellation of tax payments for 2020, and the issuance of loans to companies.

In general, experts say China is slowly but steadily making up for the losses caused by the pandemic. As the domestic economy recovers and demand rises in world markets, so does imports. This rise is beneficial not only in terms of stimulating its own growth, but also for the world economy as a whole.